Financiers all around North America have their eye on Tesla, the electric sports-car maker, and they are going to like what they see.
The initial public offering for Tesla is a hot one -- the stock is pricing at $17 (U.S.) a share, above the indicated range.
Given the choppy and generally unreceptive IPO market of 2010, any signs of life are welcome as they may restart the pipeline of stalled financings.
Tesla also shows that with the right tale to tell (it doesn't hurt to have a hot car and a founder with a good track record), even a riskier growth-type IPO can get done, and it doesn't have to be all boring income plays.
And Tesla is definitely not boring, with a founder who was the model for the inventor that Robert Downey Jr. plays in the Iron Man movies.
The trick now is a solid aftermarket performance. If Tesla doesn't swoon, look for more action soon to follow from other companies as they rush into the market (Calgary tech play Smart Technologies is getting ready to go).
If it stalls like a roadster with a dead battery, then it's back to the doldrums.
